Be Ready

It is Wednesday, the middle of the week, what some call “hump” day. I find this part of the week to be a great time to review live Stalk lists and review the Trading Journal – ensure that it is up to date.

Since I do utilize a day trade account for intraday trades, it is a good time to bring the Journal up to date as much as possible. It is also a good time to visit stocks that have not triggered yet – a chance to learn from their charts.

I have had a smaller number of price alerts trigger this week, so I have been reflecting on the data to determine why this may be. From my initial review, the only key difference I have found is this: I have a higher percentage of short candidates set up in my price alerts. Many gapped below my trigger point, and I don’t chase, so that explains the lower number of trigger opportunities. One additional data point is the fact that I am setting tighter price ranges on the alerts in this volatile market – that explains some of this as well.

For those that have asked about this week: I have a Stalk List that contains 43 entries currently. A CREE short was added today. BRNC did trigger for a Break Out today but I have no position yet.

Be prepared. Be Focused. Be Ready.

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